The Turkish Growth and Innovation Fund (TGIF), established by EIF, Undersecretariat of Treasury, Small and Medium Enterprises Development Organization of Türkiye (KOSGEB) and the Industrial Development Bank of Türkiye (TSKB) in May 2016 to support equity investments in traditional sectors as well as innovative and technology oriented businesses with a rapid growth potential has been officially launched.

With EIF’s commitments of EUR 60 million for a total fund size of EUR 200 million, TGIF aims at investing in fast growing and/or innovative companies, following the successful implementation of the predecessor initiative, iVCi (Istanbul Venture Capital Initiative), Türkiye's first fund-of-funds launched in 2007 for which resources are fully allocated into some of Türkiye’s most successful funds in the country.

Building on the success of iVCi, EIF is stepping up efforts on this front and continue to contribute development of venture capital eco-system in Türkiye through TGIF.

You are a fund manager: how to apply for cornerstone investment by TGIF.

- For Lower Mid-Market Funds:

We have a long history of investments in the lower mid-market and have developed a strong expertise and a leading market position in our core segments. We typically participate early in the fundraising process to catalyse and attract other investors’ interest and to help the fund managers reach viable fund sizes. In this role, we also endeavour to promote best practices in the private equity industry. In recent years we have increased our overall level of new commitments for our core market segments, compensating the decrease or disappearance of sponsors and large investors. Additionally, we have increased our support to funds managed by emerging or first time teams, thereby increasing the availability of equity and hybrid debt-equity financing for SME. Please see how to submit your investment proposal.

We aim to make cornerstone investments in venture capital funds focusing the European market managed both by established and emerging teams.

- For Venture Capital Funds:

We can offer “smart money”: besides providing funding, we can also help you in shaping and optimising your investment proposal by sharing experience and expertise in all phases and areas of structuring, raising and managing a venture capital fund. Please see how to submit your investment proposal.

- For SMEs :

If you are looking for funding and would like to see which financial intermediaries currently cooperate with us in Türkiye, please visit http://www.eif.org/what_we_do/where/index.htm and contact EIF's financial intermediaries directly

For information about finance available under further EU initiatives, please visit http://europa.eu/youreurope/business/funding-grants/access-to-finance

Interested to find out more? Check our Turkish Investment Initiative digital brochure here:

Regulation (EU) 2019/2088 (SFDR):
The Fund defines with the assistance of the Investment Advisor certain excluded sectors in which the Fund is prohibited to invest directly or indirectly The selection of such sectors is based on the Investment Advisor ESG guidelines: EIF Environmental, Social and Corporate Governance (ESG) Principles as well as on investment considerations meant to avoid inter alia any actual or potential material social, governance and/or environmental negative impact on the Fund performance. Such excluded sectors are taken into consideration in the investment process and decision-making process of the Fund.

The Fund does not consider adverse impact of investment decisions on sustainability factors at the present time considering that (i) in the absence of regulatory guidance, it is not clear what regulators will expect of entities that elect to consider such matters at this time, and (ii) it is also not clear that there is sufficient data, and data of a sufficient quality, to support entities that do so, in the relevant asset classes, industries or sectors in which investments have been/may be made. Sustainability factors are environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.

HIGHLIGHTS

EUR 200 million Turkish Growth and Innovation Fund officially launched

Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.

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